Top of hot stocks: Meyer Burger Technology and RH
20 June 2018 London
Image: Shutterstock
Meyer Burger (MBTN) led the FIS Astec Analytics hot stocks list for Europe, the Middle East, and Africa last week (ending 15th June).
MBTN, the Switzerland-based semiconductor manufacturer, saw its short interest volume decrease some 9 percent. Utilisation fell by just 6 percent, from 93 to 87 percent at last week’s close.
Following MBTN was Vallourec SA (VLLP), the France-based steel tube manufacturer. For the third week running, short interest volume has increased, this time up some 11 percent, while utilisation rose more slowly, increasing by just over 7 percent.
Shares turned downward again for VLLP this week, closing down at 6 percent.
FIS said: “With almost 80 percent of the shares available being borrowed, the short sellers appear to be expecting further falls, and will be pleased by this downturn in value.”
RH, the home furnishings retailer, topped the Americas hot stocks list this week.
Over the last 12 months, the shares in RH have risen 112 percent.
Last week saw the shares jump up some 42 percent on the week alone, hitting a new 12-month peak.
FIS found the jump attracted more short interest, up some 24 percent, pushing utilisation over 93 percent.
Following RH was Snap Inc. (SNAP), the owner of the instant messaging service.
Last week the shares advanced 7 percent, however, this last week also saw a fall in short interest utilisation for the first time since the start of March, when the rate dropped from over 96 percent to under 82 percent.
Volume dropped at a similar pace, dropping 15 percent. FIS said the drop signalled “some short sellers were calling time, banking their profits and logging out of Snap before their profits disappear as fast as a Snapchat message.”
MBTN, the Switzerland-based semiconductor manufacturer, saw its short interest volume decrease some 9 percent. Utilisation fell by just 6 percent, from 93 to 87 percent at last week’s close.
Following MBTN was Vallourec SA (VLLP), the France-based steel tube manufacturer. For the third week running, short interest volume has increased, this time up some 11 percent, while utilisation rose more slowly, increasing by just over 7 percent.
Shares turned downward again for VLLP this week, closing down at 6 percent.
FIS said: “With almost 80 percent of the shares available being borrowed, the short sellers appear to be expecting further falls, and will be pleased by this downturn in value.”
RH, the home furnishings retailer, topped the Americas hot stocks list this week.
Over the last 12 months, the shares in RH have risen 112 percent.
Last week saw the shares jump up some 42 percent on the week alone, hitting a new 12-month peak.
FIS found the jump attracted more short interest, up some 24 percent, pushing utilisation over 93 percent.
Following RH was Snap Inc. (SNAP), the owner of the instant messaging service.
Last week the shares advanced 7 percent, however, this last week also saw a fall in short interest utilisation for the first time since the start of March, when the rate dropped from over 96 percent to under 82 percent.
Volume dropped at a similar pace, dropping 15 percent. FIS said the drop signalled “some short sellers were calling time, banking their profits and logging out of Snap before their profits disappear as fast as a Snapchat message.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
